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Senate alleges fresh $1.15bn illegal withdrawals from NLNG accounts

15 November 2018 National


The senate says it has uncovered illegal withdrawals of 1.15 billion dollars from the dividends accounts of the Nigerian Liquefied Natural Gas, (NLNG), by the Nigeria National Petroleum Corporation, (NNPC).

This is apart from the 1.05 billion dollars, which the Group Managing Director of the NNPC, Maikantibaru, had earlier admitted was withdrawn on the presidential directive.

The Chairman, Senate Committee on Gas, Senator Bassey Akpan, disclosed that the alleged illegal withdrawals by the NNPC through the Central Bank of Nigeria, were discovered in the course of an ongoing investigation by his panel on the 1.05 billion dollar.

Akpan revealed that the NNPC GMD had explained that the 1.05 billion dollars was withdrawn to bridge the gap of losses being suffered by the corporation on landing cost of imported fuel, which is 185 naira compared to the pump price of 145 naira.


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